Sayona Mining Ltd: Expands Northern Quebec Lithium Hub - 121 New Claims

Brisbane, Australia - Emerging lithium producer Sayona Mining Ltd. (ASX:SYA) (FRA:DML) (OTCMKTS:SYAXF) has significantly expanded its Northern Quebec lithium hub by acquiring 121 new claims west of the Moblan Lithium Project, with demand intensifying for this strategic battery metal.

Located 3.5km west of the Moblan project, the new claims, known as the Lac Albert Project, span 6,592 hectares and will be assessed for lithium pegmatite occurrences during the upcoming Northern Hemisphere summer. The Moblan project covers around 433 ha for a total of 20 claims, with Sayona holding a 60% interest (SOQUEM Inc. 40%). The new claims are separate to the current Moblan joint venture agreement.

The Moblan deposit is host to spodumene pegmatite mineralisation and the additional claims at Lac Albert are located in the same proven lithium mining province, Eeyou-Istchee James Bay, which hosts established lithium resources such as Nemaska Lithium's Whabouchi mine. It is well serviced by key infrastructure and transport, namely the Route de Nord, and has access to low cost, environmentally friendly hydropower.

Drilling is currently underway at Moblan in partnership with SOQUEM Inc., acting as operator. The planned 55 diamond drill hole program for nearly 9,000m aims to identify extensions to the Moblan deposit and define mineralisation in nearby spodumene pegmatites, such as the Moléon prospect.

Sayona's Managing Director, Brett Lynch welcomed the new claims as signifying the Company's commitment to expanding its Northern Quebec lithium resource base.

"Moblan and Lac Albert are located in a proven lithium mining district, with potential to become a significant northern growth hub for Sayona, adding to our Abitibi lithium hub in the south," Mr Lynch said.

"The drilling program shows our commitment to further expanding our lithium resource base, further solidifying Sayona's leading position in the North American lithium sector."

Geological summary

Past work has been limited and the geology of the new claim area at Lac Albert is poorly understood, with much of the area obscured by glacial moraines. Exploration is targeting greenstone areas within the mapped monzogranite, along strike of the east-west trend of the Moblan deposit.

The identified pegmatites occurrences are located in an area afforded favourable access by its proximity to the Route Du Nord, an all-weather regional highway. The area of the new claims is displayed in Figure 1* below.

The Moblan project is located about 100km north of Chibougamau and around 85km from the Cree (First Nations) community of Mistissini. The project is located in the Eeyou-Istchee James Bay lithium mining province and is host to other lithium deposits, including the Whabouchi mine, as shown in Figure 2* below.

The acquisition of new claims near Moblan and the current drilling program at the project adds to Sayona's other expansion plans in Quebec in 2022, including increasing the lithium resource base at the Company's Authier Lithium Project and North American Lithium (NAL) and progressing the resumption of spodumene production at NAL, targeted from 2023.

Lithium demand in North America continues to accelerate on the back of increased EV investments by U.S. automakers such as Ford, General Motors and Stellantis in Ontario, Canada, together with planned battery investments in Quebec by Britishvolt, Lion Electric and StromVolt.

"2022 is showing no sign of a slowdown in the global momentum towards the electrification of transport.

Sayona's North American lithium resource base is a key part of this transformation and we look forward to delivering on the potential of our assets," Mr Lynch added.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/M2A04P22

About Sayona Mining Ltd:

Sayona Mining Ltd. (ASX:SYA) (OTCMKTS:SYAXF) is an Australian, ASX-listed (SYA) company focused on sourcing and developing the raw materials required to construct lithium-ion batteries for use in the rapidly growing new and green technology sectors. The Company has lithium projects in Quebec, Canada and in Western Australia.

Please visit us as at www.sayonamining.com.au

Source:
Sayona Mining Ltd.

Contact:

Brett Lynch Managing Director Phone: +61 (7) 3369 7058 Email: info@sayonamining.com.au